AsiaPulse News articles from March 2005

AsiaPulse News archives from March 2005

FOREX - AUSTRALIAN DOLLAR OPENS STRONGER - MARCH 1, 2005.
March 1, 2005... SYDNEY, March 1 Asia Pulse - The Australian dollar opened slightly stronger ahead of today's central bank meeting and a likely interest rate hike tomorrow. At 0700 AEDT the currency was trading at $US0.7921/26, compared to yesterday's...

AUSTRALIAN CENTRAL BANK RAISES INTEREST RATES.
March 2, 2005... CANBERRA, March 2 Asia Pulse - Official interest rates were increased 0.25 percentage points by the Reserve Bank of Australia (RBA) today. For the first time since December 2003, the central bank decided it was time to lift the official...

FOREX - AUSTRALIAN DOLLAR OPENS WEAKER - MARCH 2, 2005.
March 2, 2005... SYDNEY, March 2 Asia Pulse - The Australian dollar opened slightly weaker today after losing further ground on news of yesterday's current account deficit blow out. At 0700 AEDT the currency was trading at $US0.7860/64, compared to...

WESTPAC SAYS IT IS REVIEWING HOME LOAN RATES.
March 2, 2005... MELBOURNE, March 2 Asia Pulse - Westpac Banking Corp (ASX:WBC) said its home loan rates are being reviewed in the wake of the Reserve Bank of Australia lifting its cash rate by 25 basis points to 5.50 per cent this morning. "It's under...

ANZ BANK, COMMONWEALTH BANK OF AUSTRALIA REVIEW RATES.
March 2, 2005... MELBOURNE, March 2 Asia Pulse - ANZ Banking Group Ltd (ASX:ANZ) said it will look at lifting its interest rates this week after the Reserve Bank of Australia increased the cash rate by one quarter of one per cent this morning. "It's...

AUSTRALIAN NEWSPAPER HIGHLIGHTS - MARCH 2, 2005.
March 2, 2005... SYDNEY, March 2 Asia Pulse - Highlights of today's newspapers: THE DAILY TELEGRAPH - Multiplex workers vote to stay on the job and defy extortionist threats that crane drivers will be shot. - Former executives and shareholders of...

AUSTRALIAN DOLLAR STRONGER AFTER RATE HIKE.
March 2, 2005... SYDNEY, March 2 Asia Pulse - The Australian dollar was stronger after the Reserve Bank of Australia lifted the official cash rate by 0.25 percentage points to 5.50 per cent. At 0930 AEDT the Australian dollar was trading at $US0.7868,...

RBA SAYS SPARE LABOUR CAPACITY IN AUSTRALIA BECOMING LIMITED.
March 2, 2005... SYDNEY, March 2 Asia Pulse - The Reserve Bank of Australia (RBA) today said that the remaining spare capacity in labour and goods markets was becoming limited. The RBA today lifted the official cash rate by 25 basis points to 5.50 per...

RIO TINTO SAYS HAMERSLEY SIGNS IRON ORE DEAL WITH BAOSTEEL.
March 2, 2005... SYDNEY, March 2 Asia Pulse - Rio Tinto Ltd (ASX:RIO) today said Hamersley Iron had reached agreement with Shanghai Baosteel Group Corporation on prices for Hamersley iron ore deliveries for the contract year commencing 1 April 2005. Under...

STOCKS - BOMBAY STOCKS CLOSE LOWER - MARCH 1, 2005.
March 2, 2005... MUMBAI, March 1 Asia Pulse- The Sensex today fell sharply on heavy profit-taking and witnessed a downward correction as the euphoria over the budget receded and the benchmark index lost 62.78 points to close at 6651.08. Despite starting on...

FOREX- US DOLLAR HIGHER AGAINST RUPEE - MARCH 1, 2005.
March 2, 2005... MUMBAI, March 1 Asia Pulse - The US dollar ended higher against the rupee at Rs 43.71 per dollar but the pound sterling was weaker at Rs 83.84 per pound at the close of the Interbank Foreign Exchange (FOREX) market here today. The euro...

HYUNDAI MOTOR'S U.S. SALES RISE 19 PCT IN FEBRUARY.
March 2, 2005... LOS ANGELES, March 2 Asia Pulse - Hyundai Motor Co. (KSE:005380), South Korea's biggest automaker, sold 33,940 units last month in the United States, 19 per cent more than a year ago, its U.S. subsidiary said Monday. The gain was driven by...

S KOREA'S CONSUMER PRICES RISE 3.3 PCT IN FEB.
March 2, 2005... SEOUL, March 2 Asia Pulse - South Korea's consumer prices rose 3.3 per cent year-on-year in February due to hikes in agricultural products and service rates, the state statistics office said Wednesday. The consumer price index climbed 0.6...

BUSINESS SENTIMENT IN S KOREA UP IN MARCH.
March 2, 2005... SEOUL, March 2 Asia Pulse - South Korea's business sentiment among manufacturers rose for a second month in March, reflecting strong hopes of an economic recovery, the central bank said Wednesday. The business survey index (BSI) measuring...

NRIs DEMONSTRATE IN U.S. AGAINST AMENDMENTS TO PATENTS ACT.
March 2, 2005... WASHINGTON, March 1 Asia Pulse - Braving the chilly weather, non-resident Indian (NRI) students, health activists, professionals and doctors rallied in front of the Indian Embassy here during the weekend protesting against the Centre's decision...

STOCKS - AUSTRALIAN STOCKS OPEN LOWER - MARCH 2, 2005.
March 2, 2005... MELBOURNE, March 2 Asia Pulse - The Australian stock market opened marginally lower today after the Reserve Bank of Australia lifted interest rates by an expected 0.25 percentage points to 5.50 per cent. At 1011 AEDT the benchmark...

INDIA'S I-FLEX SIGNS MARKETING AGREEMENT WITH FUNDTECH.
March 2, 2005... MUMBAI, March 2 Asia Pulse - I-flex Solutions Ltd (NSI:IFLX) and Fundtech Ltd, providers of technology solutions to the global financial services industry, have signed a marketing agreement to offer total payment solution to financial...

INDIAN SHIPPING TONNAGE CROSSES 8 MILLION GRT MARK.
March 2, 2005... MUMBAI, March 2 Asia Pulse - For the first time in country's maritime history, Indian shipping tonnage has passed the eight million Gross Registered Tonnage (GRT) mark following a vessel acquisition spree by domestic shipping companies. ...

INDIA'S SATYAM LAUNCHES INITIATIVE TO DEVELOP ARABIC WORKFORCE.
March 2, 2005... NEW DELHI, March 2 Asia Pulse - Leading global consulting and IT services firm Satyam Computer Services Ltd (NSI:SATY) said Tuesday it has embarked on a programme to localise its team in the Middle East with extensive regional recruitments and...

S KOREAN NEWSPAPER HIGHLIGHTS - MARCH 2, 2005.
March 2, 2005... SEOUL, March 2 Asia Pulse - Highlights of today's newspapers: KYUNGHYANG SHINMUN - "Japan should pay compensation if compensation should be made," Roh says KUKMIN DAILY - "Japan must apologize and make compensation," Roh says...

EXXONMOBIL ANNOUNCES SALE OF SINOPEC SHARES.
March 2, 2005... (Full text of statement. Contact details below.) IRVING, Texas--(BUSINESS WIRE)--March 1, 2005--Exxon Mobil Corporation ("ExxonMobil") (NYSE:XOM) today announced that it has completed the sale of its 3.7 percent stake in China Petroleum and...

SWISS RE APPOINTS NEW HEAD FOR MALAYSIA BRANCH.
March 2, 2005... (Full text of statement. Contact details below.) KUALA LUMPUR, March 1 /Xinhua-PRNewswire-AsiaNet/ -- Swiss Re today announced the appointment of Mr Qin Lu as General Manager of the company's Malaysia Branch. Mr Andrew Davidson,...

S KOREA'S GS HOLDINGS TO SPEND US$14.1 MLN ON OIL SEARCH.
March 2, 2005... SEOUL, March 2 Asia Pulse - GS Holdings Corp. (KSE:078930), the holding company of South Korean energy and retail conglomerate GS Group, said Wednesday it will spend 14.2 billion won (US$14.1 million) on oil exploration. GS Group has...

INDUSTRY LEADERS MEET TO DISCUSS CDMA2000 TECHNOLOGY IN INDIA.
March 2, 2005... (Full text of a statement. Contact details below.) NEW DELHI, India, March 1, 2005 (PRIMEZONE) -- On February 23, 2005, the Third Generation Partnership Project 2 (3GPP2) and the CDMA Development Group (CDG) held a cdma2000(R) Workshop in...

INDIAN GOVT RAISES TELECOM PLAN OUTLAY IN FY06.
March 2, 2005... NEW DELHI, March 2 Asia Pulse - With increased focus on telecom services as a thrust area of infrastructure, the government has raised the total plan outlay of Department of Telecom by 21.79 per cent over last fiscal to Rs 118.01 billion...

TATA UNVEILS THE 'XOVER' CROSSOVER AT GENEVA AUTO SHOW.
March 2, 2005... GENEVA, March 2 Asia Pulse - In a bid to make further inroads in the global market, Tata Motors (BSE:500570) Tuesday unveiled the 'Xover', a crossover vehicle concept, showcasing the company's commitment to innovate and gear up for newer...

SYNTEL TO INVEST US$20 MLN IN CHENNAI IT CORRIDOR, HIRE 1500.
March 2, 2005... CHENNAI, March 2 Asia Pulse - Outlining its plans that included new investments for US$20 million and hiring 1,500 people during this year, Syntel (India) Ltd today said that it had acquired 28 acres of land on IT corridor of Chennai and would...

TAIWAN ECONOMY RATED GREEN LIGHT FOR JAN: CEPD.
March 2, 2005... TAIPEI, March 2 Asia Pulse - A green light was recorded for Taiwan's economy in January for the fourth consecutive month, meaning that the domestic economy has been growing steadily, according to a government report released Monday. The...

CAL, UNI AIRWAYS LAUNCH SCHEDULED TAIPEI-SEOUL FLIGHTS.
March 2, 2005... TAIPEI, March 2 Asia Pulse - Two Taiwan carriers -- China Airlines (CAL) (TAIEX:2610) and UNI Airways -- upgraded their regular daily charter flights to the South Korean capital of Seoul to scheduled flights Tuesday. CAL, Taiwan's largest...

MOST MANUFACTURERS NEUTRAL ON TAIWAN'S ECONOMIC OUTLOOK: POLL.
March 2, 2005... TAIPEI, March 2 Asia Pulse - Nearly 60 per cent of Taiwan manufacturers are neutral about their economic prospects for the next three months, according to the results of a government survey released Tuesday. The poll, conducted by the...

TAIWAN TOURISM BUREAU WANTS DIRECT CROSS-STRAIT CRUISES.
March 2, 2005... TAIPEI, March 2 Asia Pulse - With the successful end of direct charter flights between Taiwan and mainland China for the lunar new year holiday, cruise organizers and tourist agencies are optimistic that direct cross-Taiwan Strait voyages can...

TAIWAN'S ECONOMIC GROWTH RATE TO HIT 4.5 PCT THIS YEAR: PREMIER.
March 2, 2005... TAIPEI, March 2 Asia Pulse - Taiwan is expected to post an economic growth rate of more than 4.5 per cent this year while keeping unemployment below 4 per cent, despite the slowdown of the global economic expansion, Premier Frank Hsieh said...

AUSTRALIAN RATE HIKE PUNISHES HOME BUYERS, SAYS REIA.
March 2, 2005... SYDNEY, March 2 Asia Pulse - The Real Estate Institute of Australia (REIA) said today's interest rate hike was not good news for home buyers, and punished those who were trying to get ahead. REIA president Ian Wells said it was...

PRIVATIZATION OF TAIWAN STATE-RUN ENTERPRISES IS VITAL: MOF.
March 2, 2005... TAIPEI, March 2 Asia Pulse - The privatization of state-run enterprises is vital to the country's economy, according to a statement issued Tuesday by the Ministry of Finance (MOF). The MOF said in the statement that the privatization is...

S&P AFFIRMS RATINGS OF CALTEX AUSTRALIA.
March 2, 2005... SYDNEY, March 2 Asia Pulse - Standard & Poor's Ratings Services today affirmed its BBB-plus/A2 corporate credit ratings on oil refiner and marketer Caltex Australia Ltd (ASX:CTX). S&P said the outlook is stable. "Caltex's rating...

INDIA'S OVL, IPR ENERGY WIN BLOCK SIX IN EGYPT.
March 2, 2005... NEW DELHI, March 2 Asia Pulse - ONGC Videsh, along with its consortium partner IPR Energy Red Sea Inc, a subsidiary of Texas Independent, has bagged North Ramadan block six in Egypt. The Egyptian General Petroleum Corporation has announced...

STOCKS - TOKYO STOCKS OPEN HIGHER - MARCH 2, 2005.
March 2, 2005... TOKYO, March 2 Asia Pulse - Tokyo stocks opened higher Wednesday, with the Nikkei 225 index rising 8.27 points, or 0.07 per cent, to 11,788.80 during the first eight minutes of trade. ASIA PULSE 02-03 1115

FONTERRA LIFTS BID FOR AUSTRALIA'S NATIONAL FOODS.
March 2, 2005... SYDNEY, March 2 Asia Pulse - New Zealand dairy cooperative Fonterra said today it had lifted its bid for Australian dairy company National Foods Ltd (ASX:NFD). Fonterra said it had lifted its bid to $A6.00 ($US4.71) per share, which will...

HONG KONG NEWSPAPER HIGHLIGHTS - MARCH 2, 2005.
March 2, 2005... HONG KONG, March 2 Asia Pulse - Highlights of today's newspapers: SOUTH CHINA MORNING POST: - Tung Chee-hwa will step down as Hong Kong's chief executive, sources in Beijing said yesterday - and he could leave as early as this month....

TELSTRA TO SELL 2013 BONDS UNDER EURO PROGRAM.
March 2, 2005... SYDNEY, March 2 Asia Pulse - Telstra Corp Ltd (ASX:TLS) today said it will sell $A500 million ($US392.7 million) of November 2013 bonds under its eight billion euro (US$10.5 billion) debt issuance program. The bonds will pay a fixed rate...

STOCKS - S KOREAN STOCKS OPEN HIGHER - MARCH 2, 2005.
March 2, 2005... SEOUL, March 2 Asia Pulse - South Korean stocks opened higher Wednesday, with the Korea Composite Stock Price Index (KOSPI) rising 3.80 points to 1,015.16. (Yonhap) 02-03 1126

FOREX - US DOLLAR OPENS LOWER - MARCH 2, 2005.
March 2, 2005... SEOUL, March 2 Asia Pulse - The US dollar opened at 1,004.00 won Wednesday, down from 1,006.00 at Tuesday's close. (Yonhap) 02-03 1128

STOCKS - KOSDAQ STARTS HIGHER - MARCH 2, 2005.
March 2, 2005... SEOUL, March 2 Asia Pulse - The KOSDAQ Wednesday started 3.50 points higher at 501.88. (Yonhap) 02-03 1129

FOREIGNERS BUY NET US$49.7 BLN IN S KOREAN STOCKS SINCE 1997.
March 2, 2005... SEOUL, March 2 Asia Pulse - Foreign investors have booked a net buy of around 50 trillion won (US$49.7 billion) in South Korean shares since the Asian financial crisis in late 1997, increasing their presence in the local equity market, the...

TAIWAN-MAINLAND CHINA TRADE VOLUME TOPS US$61.63 BLN IN 2004.
March 2, 2005... TAIPEI, March 2 Asia Pulse - The volume of trade between Taiwan and mainland China amounted to US$61.63 billion in 2004, up 33.1 per cent from the previous year, the Bureau of Foreign Trade (BOFT) reported Tuesday. The figure accounted for...

STOCKS - SEOUL SHARES OPEN HIGHER - MARCH 2, 2005.
March 2, 2005... SEOUL, March 2 Asia Pulse - South Korean stocks started higher Wednesday as investor sentiment was boosted by an overnight gain on Wall Street and easing concerns about oil prices. In the first 15 minutes of trading, the benchmark Korea...

SEVEN OUT OF 10 S KOREAN FIRMS PLAN SALARY RAISE.
March 2, 2005... SEOUL, March 2 Asia Pulse - Seven out of 10 firms in South Korea plan to raise the salary of their employees by an average 8.5 per cent this year, an online job portal said Wednesday. According to Incruit Corp., 66.7 per cent of 135 listed...

S KOREA'S AGRICULTURAL DEFICIT EXCEEDS US$10 BLN IN 2004.
March 2, 2005... SEOUL, March 2 Asia Pulse - South Korea's agriculture sector trade deficit surpassed the US$10 billion mark for the first time in 2004, the Ministry of Agriculture and Forestry said Wednesday. The country's deficit in the agricultural field...

FUJIAN OFFICIALS VISIT MATSU TO INSPECT TOURIST ENVIRONMENT.
March 2, 2005... TAIPEI, March 2 Asia Pulse - A mainland Chinese delegation, headed by Fujian Provincial Tourism Bureau Director Huang Xiaoyen, is visiting Matsu to examine tourist spots on the Taiwan-held frontline island. After touring local attractions...

HONG KONG'S TUNG CHEE-HWA TO STEP DOWN.
March 2, 2005... HONG KONG, March 2 Asia Pulse - Hong Kong's embattled chief executive, Tung Chee-Hwa, has decided to step down early, according to press reports in Hong Kong. Tung submitted his resignation before the Lunar New Year, citing poor health and...

MALAYSIAN NEWSPAPER HIGHLIGHTS - MARCH 2, 2005.
March 2, 2005... KUALA LUMPUR, March 2 Asia Pulse - Highlights of today's newspapers: BUSINESS TIMES: - RHB Group's (RHB) full-fledged Islamic banking subsidiary, RHB Islamic Bank Bhd, launched yesterday, will start business on March 16. -...

S KOREA'S CHOHUNG BANK TO RAISE DEPOSIT RATES.
March 2, 2005... SEOUL, March 2 Asia Pulse - Chohung Bank, a unit of South Korea's second-largest financial services group, said Wednesday it will raise interest rates on its time deposits by 0.1 to 0.2 per cent. The move of the bank, affiliated with...

AMD OPENS NEW TEST, MARK AND PACK MANUFACTURING FACILITY IN SUZHOU, CHINA.
March 2, 2005... (Full text of statement. Contact details below.) SUZHOU, China--(BUSINESS WIRE)--March 1, 2005--AMD (NYSE:AMD) today officially opened its new microprocessor test, mark and pack (TMP) facility in Suzhou Industrial Park, China. The new...

FDI IN INDIA'S COAL MINES TO BE LOOKED AT IN DETAIL: MINISTER.
March 2, 2005... NEW DELHI, March 2 Asia Pulse - The issue of Foreign Direct Investment (FDI) in coal-mining sector needs to be looked at in great detail to address, among other things, various demands of the trade unions, Minister of State for Coal and Mines...

INDIAN COMMERCE MINISTER ATTENDS WTO MEETING IN KENYA.
March 2, 2005... NEW DELHI, March 2 Asia Pulse - Commerce Minister Kamal Nath will lead the Indian delegation at the WTO Mini Ministerial in Kenyan capital of Mombasa from March 2-4, aimed at speeding up the finalisation of modalities within the July Framework....

PGP CORP ANNOUNCES RECORD ORDERS IN 2004.
March 2, 2005... (Full text of this release can be found at http:/www.asianetnews.net) PALO ALTO, Calif.--(BUSINESS WIRE)--March 1, 2005-- Enterprise Adoption, Industry Recognition, Technology Partnerships, Channel Expansion, and Product Innovations...

CORR PGP CORP ANNOUNCES RECORD ORDERS IN 2004.
March 2, 2005... (Repeating for technical reasons) (Edited text of a statement. Full text can be found at www.businesswire.com) PALO ALTO, Calif.--(BUSINESS WIRE)--March 1, 2005-- Enterprise Adoption, Industry Recognition, Technology Partnerships,...

AUSTRALIA'S ACCC NOT TO INTERFERE WITH SAN MIGUEL BID FOR NATIONAL FOODS.
March 2, 2005... SYDNEY, March 2 Asia Pulse - Australia's competition watchdog said today that it would not interfere with Philippines soft drink and beer giant San Miguel Corporation's bid for Australian dairy company national Foods Ltd. San Miguel is...

AUSTRALIA'S GDP RISES 0.1 PCT IN DEC QUARTER: ABS.
March 2, 2005... CANBERRA, March 2 Asia Pulse - The Australian economy grew by just 0.1 per cent in the December quarter, the Australian Bureau of Statistics said today. On an annual basis, GDP grew just 1.5 per cent. The bureau said non-farm GDP grew...

BUSINESS WIRE AND DECISIONSOFT SET UP COREFILING LIMITED.
March 2, 2005... (Full text of statement. Contact details below.) NEW YORK & OXFORD, England--(BUSINESS WIRE)--Feb. 22, 2005--Business Wire, the global leader in financial news distribution, and UK-based DecisionSoft Limited, the world's premier XBRL...

TAIPEI BANK EXPANDS THE USE OF SIERRA TREASURY.
March 2, 2005... (Full text of statement. Contact details below.) PHILADELPHIA & TAIPEI, Taiwan--(BUSINESS WIRE)--March 1, 2005--FNX Limited (FNX), a leader in the delivery of technology solutions to the global financial markets is pleased to announce that...

S KOREA'S CAPITAL OUTFLOW FOR OVERSEAS STUDIES SOARS.
March 2, 2005... SEOUL, March 2 Asia Pulse - South Korea's capital outflow to fund overseas study and training rose sharply in the four months ended in January as its strong currency made it easier to afford them, the central bank said Wednesday. South...

STOCKS - AUSTRALIAN STOCKS UP AT NOON - MARCH 2, 2005.
March 2, 2005... BRISBANE, March 2 Asia Pulse - The Australian stock market has brushed off the Reserve Bank's decision to lift interest rates with the market slightly up at noon. At 1203 AEDT the benchmark S&P/ASX200 was up 1.6 points to 4186.5 while the...

AUSTRALIAN DOLLAR LOSES HALF US CENT AFTER GDP DATA.
March 2, 2005... SYDNEY, March 2 Asia Pulse - The Australian dollar was half a US cent weaker after the Australian Bureau of Statistics (ABS) reported weaker than expected national accounts figures. The ABS said December quarter national accounts or gross...

SAN MIGUEL CONSIDERING POSITION AFTER FONTERRA HIKES BID.
March 2, 2005... SYDNEY, March 2 Asia Pulse - Philippines soft drink and beer giant San Miguel Corporation said today that it was considering its position after New Zealand dairy cooperative Fonterra upped its bid for Australian dairy company National Foods Ltd...

AUSTRALIA'S CENTENNIAL ACQUIRES STAKE IN AUSTRAL COAL.
March 2, 2005... SYDNEY, March 2 Asia Pulse - NSW coal miner Centennial Coal Co Ltd (ASX:CEY) has begun its takeover of fellow miner Austral Coal Ltd (ASX:AUO), today announcing it would buy a stake from the takeover target's largest shareholder. ...

CHINESE AUTOMAKERS TO EXPAND BUSINESS IN PAKISTAN.
March 2, 2005... ISLAMABAD, March 2 Asia Pulse - Chinese automakers are planning to expand their business network in Pakistan. "We plan to build a new automobile assembly plants in a number of countries, such as Pakistan, Venezuela and Syria," said a spokesman...

HYUNDAI DEPT STORE TO SELL APPLIANCES MADE BY CHINA'S HAIER.
March 2, 2005... SEOUL, March 2 Asia Pulse - China's largest home appliance maker Haier Group Co. will put its products on sale at a domestic department store for the first time this week, industry sources said Wednesday. According to the sources, Hyundai...

INDONESIAN NEWSPAPER HIGHLIGHTS - MARCH 2, 2005.
March 2, 2005... JAKARTA, March 2 Asia Pulse - Highlights from today's newspapers: KOMPAS: - Factions in the House of Representatives urged the House leaders to hold a plenary session to discuss their actions after the government dismissed their call...

INDONESIAN AIMS TO ATTRACT 6 MLN TOURISTS THIS YEAR.
March 2, 2005... JAKARTA, March 2 Asia Pulse The government targets to attract 6 million foreigners to visit the country this year up from 5.3 million last year. The government especially hopes to see more Chinese visiting the country, Tourism and Culture...

S. KOREA, WIPO TO CREATE INTELLECTUAL PROPERTY RIGHTS E-CONTENTS.
March 2, 2005... GENEVA, March 2 Asia Pulse - The World Intellectual Property Organization (WIPO) said Wednesday it will jointly develop educational e-contents material on such topics as trademarks, designs, copyrights and marketing with South Korea's patent...

AUSTRALIAN TREASURER SAYS ECONOMIC CONDITIONS STILL STRONG.
March 2, 2005... CANBERRA, March 2 Asia Pulse - Economic conditions in Australia were still strong despite a drop-off in economic growth, Treasurer Peter Costello said today. Commenting on the latest national account figures, which showed the economy grew...

INDONESIA'S 2004 RICE PRODUCTION RISES 3.6% TO 54.06 MLN TONS.
March 2, 2005... JAKARTA, March 2 Asia Pulse - The country's production of unhulled rice rose 3.6 per cent to 54.06 million tons in 2004 compared with the previous year. The production rise was attributable mainly to expansion of rice fields, the Central...

FOREX - AUSTRALIAN DOLLAR WEAKER AT NOON - MARCH 2, 2005.
March 2, 2005... SYDNEY, March 2 Asia Pulse - The Australian dollar was trading half a US cent weaker at noon, after the release of softer than expected national accounts data. At 1200 AEDT the currency was trading at $US0.7820/23, compared to yesterday's...

JAPANESE NEWSPAPER HIGHLIGHTS - MARCH 2, 2005.
March 2, 2005... TOKYO, March 2 Asia Pulse - Highlights of today's newspapers: NIKKEI NET: - The Industrial Revitalization Corp. of Japan (IRCJ) is poised to tap the alliance of Marubeni Corp. (TSE: 8002) and Advantage Partners Inc. to sponsor the...

PHILIPPINE NEWSPAPER HIGHLIGHTS - MARCH 2, 2005.
March 2, 2005... MANILA, March 2 Asia Pulse - Highlights of today's newspapers: MANILA TIMES: - Dominant carrier Philippine Long Distance Telephone Co. (PLDT) said Tuesday its net profit more than doubled to P28 billion ($512 million) in 2004, beating...

CORR - S.KOREA, WIPO TO CREATE INTELLECTUAL PROPERTY RIGHTS.
March 2, 2005... Repeating to correct e-running in 5th para to e-learning GENEVA, March 2 Asia Pulse - The World Intellectual Property Organization (WIPO) said Wednesday it will jointly develop educational e-contents material on such topics as trademarks,...

STOCKS - SINGAPORE STOCKS UP IN EARLY TRADE - MARCH 2, 2005.
March 2, 2005... SINGAPORE, March 2 Asia Pulse - Singapore shares were higher in early trade, with the Straits Times Index up 11.83 points at 2,136.94 at 10.10 a.m. ASIA PULSE 02-03 1312

STOCKS - MALAYSIAN STOCKS DOWN IN EARLY TRADE - MARCH 2, 2005.
March 2, 2005... KUALA LUMPUR, March 2 Asia Pulse - The Malaysian sharemarket was down in early trade, with the Kuala Lumpur Stock Exchange Composite Index falling 0.6 points at 897.89 at 10.05 a.m. ASIA PULSE 02-03 1314

S.KOREA TO EXPORT 60 SUPERSONIC TRAINER JETS TO UAE.
March 2, 2005... SEOUL, March 2 Asia Pulse - South Korea plans to export 60 locally-developed supersonic trainer jets to the United Arab Emirates (UAE) by 2009, officials said Wednesday. The two countries will sign a US$2 billion contract for the supply of...

S. KOREA'S MAEIL DAIRY SEES NET PROFIT SURGE 70% IN 2004.
March 2, 2005... SEOUL, March 2 Asia Pulse - Maeil Dairy Industry Co. (KOSDAQ:05990), a leading milk producer, said Wednesday its net profit surged 69.5 per cent year-on-year to 30.5 billion won (US$30.32 million) last year. Operating profit also jumped...

AUSTRALIAN AUTO SECTOR BOOKS BUMPER SALES IN JANUARY.
March 2, 2005... ADELAIDE, March 2 Asia Pulse - February will offer a better indication on the health of Australia's car market after the industry posted a bumper January sales result, according to Toyota boss John Conomos. In January almost 70,000 new...

S. KOREA'S OVERSEAS CONSTRUCTION ORDERS SOAR THIS YEAR.
March 2, 2005... SEOUL, March 2 Asia Pulse - Overseas construction orders received by South Korean companies almost doubled in the first two months of 2005 from a year ago thanks to a rebound in the global market, the government said Wednesday. Domestic...

INDONESIA POSTS 4.84% MONTH-ON-MONTH DROP IN JAN EXPORTS.
March 2, 2005... JAKARTA, March 2 Asia Pulse - Indonesia's exports fell 4.84 per cent in January to US$6.13 billion from US$6.45 billion in the previous month but rose 21.63 per cent from the same month last year. The Central Board of Statistics (BPS) said...